Cathie Wood: The Jobs Report Is Broken, Not the Economy
June jobs report: household -500k, NFP +57k. Wood calls it a methodology failure, not a recession. AI entrepreneurs are starting businesses the household survey cannot see.
TrueFlation reads 1.75% vs 4.2% CPI. If the gap is real, the Fed is badly overtightened and the cut cycle is larger than the market expects.
Credit markets are calm despite Blue Owl gating. Bank CDS and high yield spreads stayed quiet even with one fund facing 40% redemptions. No systemic contagion.
Real tech capex broke a 40-year ceiling. ARK targets productivity rising from 2.9% to 5-6%, the most contrarian macro call in the episode.
This breakdown is for paid subscribers. Below: the full TrueFlation-vs-CPI overtightening math, why Wood reads the credit markets and not the jobs print as the real recession tell, and the token-price counter-signal that could break her 40-year capex call. Join to get full access.
